China: Polycarboxylic Acid Market 2023

Polycarboxylic Acid Market Size in China

In 2021, the Chinese polycarboxylic acid market decreased by -43% to $X, falling for the third year in a row after three years of growth. Overall, consumption recorded a abrupt slump. Polycarboxylic acid consumption peaked at $X in 2012; however, from 2013 to 2021, consumption failed to regain momentum.

Polycarboxylic Acid Production in China

In value terms, polycarboxylic acid production expanded notably to $X in 2021 estimated in export price. In general, production, however, enjoyed a significant expansion. The pace of growth appeared the most rapid in 2014 with an increase of 228% against the previous year. Polycarboxylic acid production peaked at $X in 2018; however, from 2019 to 2021, production failed to regain momentum.

Polycarboxylic Acid Exports

Exports from China

In 2021, shipments abroad of polycarboxylic acids was finally on the rise to reach X tons for the first time since 2018, thus ending a two-year declining trend. In general, exports showed significant growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

In value terms, polycarboxylic acid exports skyrocketed to $X in 2021. Overall, exports showed prominent growth. As a result, the exports reached the peak and are likely to continue growth in the immediate term.

Exports by Country

India (X tons), Turkey (X tons) and Russia (X tons) were the main destinations of polycarboxylic acid exports from China, with a combined 42% share of total exports. Saudi Arabia, Oman, Vietnam, Pakistan, Egypt, South Africa, Taiwan (Chinese), South Korea, the Netherlands and Singapore lagged somewhat behind, together accounting for a further 41%.

From 2012 to 2021, the most notable rate of growth in terms of shipments, amongst the main countries of destination, was attained by Oman (with a CAGR of +127.3%), while the other leaders experienced more modest paces of growth.

In value terms, the largest markets for polycarboxylic acid exported from China were India ($X), Turkey ($X) and Russia ($X), together comprising 32% of total exports. Taiwan (Chinese), Vietnam, the Netherlands, South Korea, Saudi Arabia, Oman, Pakistan, Egypt, South Africa and Singapore lagged somewhat behind, together comprising a further 38%.

Oman, with a CAGR of +124.6%, recorded the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced more modest paces of growth.

Export Prices by Country

The average polycarboxylic acid export price stood at $X per ton in 2021, growing by 2.7% against the previous year. In general, the export price, however, recorded a deep contraction. The pace of growth was the most pronounced in 2016 when the average export price increased by 10%. The export price peaked at $X per ton in 2012; however, from 2013 to 2021, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In 2021, the country with the highest price was the Netherlands ($X per ton), while the average price for exports to Saudi Arabia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (-0.5%), while the prices for the other major destinations experienced a decline.

Polycarboxylic Acid Imports

Imports into China

In 2021, purchases abroad of polycarboxylic acids decreased by -55.3% to X tons, falling for the second year in a row after three years of growth. In general, imports continue to indicate a sharp decrease. The most prominent rate of growth was recorded in 2019 with an increase of 27%. Over the period under review, imports hit record highs at X tons in 2012; however, from 2013 to 2021, imports failed to regain momentum.

In value terms, polycarboxylic acid imports shrank markedly to $X in 2021. Over the period under review, imports saw a precipitous contraction. The pace of growth appeared the most rapid in 2017 when imports increased by 26%. Imports peaked at $X in 2012; however, from 2013 to 2021, imports stood at a somewhat lower figure.

Imports by Country

South Korea (X tons), Taiwan (Chinese) (X tons) and Japan (X tons) were the main suppliers of polycarboxylic acid imports to China, together comprising 89% of total imports. These countries were followed by Germany, Malaysia, Thailand and Indonesia, which together accounted for a further 7%.

From 2012 to 2021, the biggest increases were recorded for Germany (with a CAGR of +3.7%), while purchases for the other leaders experienced a decline.

In value terms, the largest polycarboxylic acid suppliers to China were South Korea ($X), Taiwan (Chinese) ($X) and Japan ($X), together comprising 84% of total imports. These countries were followed by Germany, Malaysia, Thailand and Indonesia, which together accounted for a further 7.6%.

In terms of the main suppliers, Germany, with a CAGR of +2.2%, saw the highest rates of growth with regard to the value of imports, over the period under review, while purchases for the other leaders experienced a decline.

Import Prices by Country

The average polycarboxylic acid import price stood at $X per ton in 2021, picking up by 89% against the previous year. Over the period under review, import price indicated a modest expansion from 2012 to 2021: its price increased at an average annual rate of +1.1% over the last nine-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, import price reached the peak level and is likely to continue growth in the immediate term.

Prices varied noticeably country of origin: the country with the highest price was Germany ($X per ton), while the price for Indonesia ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by South Korea (+0.6%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform

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